Insurance Net Retention

Maximum amount of net insurance coverage that the insurer retained in the reporting period on any one risk or exposure in the particular class of insurance, either by underwriting the risk for its own net account, or after the application of all reinsurance recoveries applicable to the risk. Business net retention represents an insurance company's policy turnover over a specific time period, and is calculated by dividing net premiums by gross written premiums. An increase in business net retention over time represents growth. Based on: Canadian Office of the Superintendent of Financial Institutions.

Insurance Net Retention Related Indicators

Total premium on insurance underwritten by an insurer or reinsurer during a specified period, before deduction of reinsurance premium. It is the sum of the direct and assumed premium written and represents an indicator of the importance of the insurance industry in a given country. Usually measured in millions or billions of national currency. Based on: US National Association of Insurance Commissioners.

Total premium on insurance underwritten by an insurer after the deduction of premium applicable to reinsurance, usually expressed in millions or billions of national currency. Net premiums written is the sum of premiums written by an insurance company over the course of a period of time, less premiums ceded to reinsurance companies, plus any reinsurance assumed. It represents how much of the premiums the company gets to keep for assuming risk. Based on: US National Association of Insurance Commissioners.

Total premium on insurance underwritten by a non-life insurer or reinsurer during a specified period, before deduction of reinsurance premium. It is the sum of the direct and assumed premium written and represents an indicator of the importance of the non-life insurance industry in a given country. Usually measured in millions or billions of national currency. Non-life insurance (called property and casualty insurance in the United States) refers to all types of insurance business other than life insurance, for example property insurance, accident insurance, liability insurance, motor insurance or health insurance. Based on: US National Association of Insurance Commissioners.

Total premiums generated from all policies (contracts) written by an insurer within a given period of time, usually measured in millions or billions of national currency. Based on: US National Associaton of Insurance Commissioners.

Percentage of population covered by accident insurance. Accident insurance refers to insurance policies covering unforseen bodily injuries caused by an unexpected event or circumstance without deliberate intent. Based on: US National Association of Insurance Commissioners.

Total premium on insurance underwritten by an accident insurer or reinsurer during a specified period, before deduction of reinsurance premium. It is the sum of the direct and assumed premium written and represents an indicator of the importance of the accident insurance industry in a given country. Usually measured in millions or billions of national currency. Accident insurance refers to insurance policies covering unforseen bodily injuries caused by an unexpected event or circumstance without deliberate intent. Based on: US National Association of Insurance Commissioners.

Revenue generated by accident insurance industry, usually expressed in millions or billions of national currency. Accident insurance refers to insurance policies covering unforseen bodily injuries caused by an unexpected event or circumstance without deliberate intent. Based on: US National Association of Insurance Commissioners.

Total premium on insurance underwritten by an insurer or reinsurer during a specified period, before deduction of reinsurance premium. It is the sum of the direct and assumed premium written and represents an indicator of the importance of the insurance industry in a given country. Usually measured in millions or billions of national currency. Based on: US National Association of Insurance Commissioners.

Reinsurance premiums divided by gross premiums. It measures the part of a risk (policy or risk portfolio) that an insurer transfers to, or finances with, another insurer and represents an indicator of the capacity of the domestic insurance market in covering local risk, ceteris paribus. Based on: Organisation of Economic Co-operation and Development.

Insurance density is a ratio of all insurance premiums to population. It is an indicator of the insurance spending per capita in a given country. Based on: Organisation of Economic Co-operation and Development.

Number of insurance firms at a given date in a country. An insurance firm is defined as a corporation legally authorized to act as an insurer, i.e. transfering risk from an individual to a company and reducing the uncertainty of risk via pooling. Based on: US National Association of Insurance Commissioners.

Ratio of insurance premium to GDP (in percentage of GDP) . It is an indicator of the relative importance of the industry insurance in a given country. Based on: Organisation for Economic Co-operation and Development.

Insurance spending is defined as the ratio of direct gross premiums to GDP, which represents the relative importance of the insurance industry in the domestic economy. This indicator is expressed as a percentage of GDP.

Total premium on insurance underwritten by an insurer after the deduction of premium applicable to reinsurance, usually expressed in millions or billions of national currency. Net premiums written is the sum of premiums written by an insurance company over the course of a period of time, less premiums ceded to reinsurance companies, plus any reinsurance assumed. It represents how much of the premiums the company gets to keep for assuming risk. Based on: US National Association of Insurance Commissioners.

Total premium on insurance underwritten by a non-life insurer or reinsurer during a specified period, before deduction of reinsurance premium. It is the sum of the direct and assumed premium written and represents an indicator of the importance of the non-life insurance industry in a given country. Usually measured in millions or billions of national currency. Non-life insurance (called property and casualty insurance in the United States) refers to all types of insurance business other than life insurance, for example property insurance, accident insurance, liability insurance, motor insurance or health insurance. Based on: US National Association of Insurance Commissioners.

Number of non-life insurance firms at a given date in a country. Non-life insurance (called property and casualty insurance in the United States) refers to all types of insurance business other than life insurance, for example property insurance, accident insurance, liability insurance, motor insurance or health insurance. An insurance firm is defined as a corporation legally authorized to act as an insurer, i.e. transfering risk from an individual to a company and reducing the uncertainty of risk via pooling. Based on: US National Association of Insurance Commissioners.

Portion of premium for which the policy protection or coverage has already been given during the now-expired portion of the policy term, usually measured in millions or billions of national currency. Based on: US National Association of Insurance Commissioners.

Total premiums generated from all policies (contracts) written by an insurer within a given period of time, usually measured in millions or billions of national currency. Based on: US National Associaton of Insurance Commissioners.

Value of sum insured, i.e. the amount fixed in the insurance policy in order to define the policy limit of liability and premium calculation. Usually expressed in national currency. Based on: International Network of Insurance.

Total premium on insurance underwritten by a travel insurer or reinsurer during a specified period, before deduction of reinsurance premium. It is the sum of the direct and assumed premium written and represents an indicator of the importance of the travel insurance industry in a given country. Usually measured in millions or billions of national currency. Travel insurance covers financial loss due to trip cancellation or interruption, lost or damaged baggage, trip or baggage delays, missed connections and/or changes in itinerary, and casualty losses due to rental vehicle damage. Based on: US National Association of Insurance Commissioners.